Many people say they would prefer to stay in their homes as they age. According to Bob Bua, vice president of CareScout, a subsidiary of Genworth that conducted the firm's annual Cost of Care survey, the desire for home care bears out in the data. About 70% of Genworth's first claims are for in-home care and 63% of final claims are for people still in their homes. "When people begin long-term care services, they prefer to receive those services in their homes," Bua says.

Fortunately for those who prefer home care, the costs are much less than facilities-based care – and they're rising at a slower pace. According to the survey, the cost of care in a facility setting has jumped 4% over the last five years while home care costs – specifically for home health aides -- have increased just 1% over that period.

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